Digital World SPAC Update: Closing of Initial Public Offering and Full Exercise of Over-Allotment

Digital World Acquisition Corp. (Digital World) closed its initial public offering of 25,000,000 units at $10.00 per unit. Each unit consists of one share of the Company's Class A common stock and one half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. The underwriters exercised their over-allotment option in full for an additional 3,750,000 units at the time of the closing of the Offering. As a result, the aggregate gross proceeds of the offering, including the over-allotment, are $287,500,000, prior to deducting underwriting discounts, commissions and other offering expenses.

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